Fair Debt Collection: Addresses communications in connection with debt collection and prohibitions on harassment or abuse, false or misleading representations, and unfair practices in debt collection. It also addresses the use of newer communication technologies in debt collection and establishes record retention requirements.
Debt Collection Disclosures: Addresses debt collection disclosures and the information debt collectors must provide consumers at the outset of collections communications. It also prohibits debt collectors from bringing or threatening to bring a legal action against a consumer to collect a time-barred debt, as well as furnishing information about a debt to a consumer reporting agency before the debt collector takes certain actions to contact the consumer about the debt.
The proposed rule would extend both of these to have effective dates to Jan. 29, 2022. For more information these potential changes, contact Doeren Mayhew’s regulatory compliance specialists.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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